Sovereign Gold Bond: Amidst the Russia-Ukraine War, a new issue of Sovereign Gold Bond opened for subscription on 28 February 2022 and will be open till 4 March 2022. The rise in Ukraine-Russia tensions has led to a rise in the price of gold. This is an 18-month high in the domestic market. However, the yellow metal witnessed heavy profit booking and came down within 48 hours. But, analysts are still bullish about the precious bullion metal.
At present, the retail gold price in India is around Rs 53,000 per 10 grams, which is about 2000 more than the issue price of Sovereign Gold Bonds at Rs 51,090 per 10 grams. In fact, those who are applying online and paying through digital gateway will have to pay only Rs 50,590 per 10 gram as a discount of Rs 50 per gram can be given to online customers paying digitally. has been So, Sovereign Gold Bond is available at attractive discount of Rs.2000 to Rs.2400 and one more day is left for bidding.
Cheap gold from 2000 to 2500 rupees
According to commodity market experts, one should subscribe to this offer of the Government of India (GoI). He said that this golden opportunity should not be missed and subscribe to Sovereign Gold Bond. Advising investors to subscribe to Series I of Sovereign Gold Bond Scheme 2021-22, Anuj Gupta, Vice President, IIFL Securities said that MCX gold price today is around Rs 51,700 per 10 grams. If we add to this the landing price of Rs 1500 per 10 grams, the retail price anywhere in India would come down to around Rs 53,200 per 10 grams. In such a situation, sovereign gold bonds are getting cheaper by about Rs 2,000 as compared to retail gold. Whereas if the customer makes online payment for the issue, he will get a further discount of Rs 50 per gram i.e. up to Rs 500 on 10 grams. This means that the total discount will be ₹ 2500 per ten grams. Therefore, one should not miss this opportunity and subscribe to this golden opportunity being offered by the Government of India through Reserve Bank of India (RBI).
70% return in last 5 years
Anuj Gupta of ISI Securities said that even when the Sovereign Gold Bond was at par with the retail gold price, he would have suggested to ‘subscribe’ to this Government of India offer as it is for a longer period. He said that the price of gold has increased by close to 70 per cent in the last 5 years and hence there is no harm in implementing this long term gold investment plan. On the expectation of great returns for long-term gold investors, Pankaj Mathpal, MD & CEO, Optima Money Managers, while talking to Live Mint said that this is a great time to invest in Sovereign Gold Bond Scheme as gold is expected to increase in the next few years. It is expected to give returns of around 10-12 per cent. Hence, such an attractive rebate for investment in gold should not be waived for 5 years or more and one should apply for the latest tranche of Sovereign Gold Bond Scheme.